In addition to the watch, Apple unveiled the iPhone 6, as well as the iPhone 6 Plus, both with larger screens than previous iPhone models, as well as other new features.

"Today, we are launching the biggest advancement in the history of iPhones," Cook said.

But how will these new products change people's daily lives? Will credit cards become extinct? Will the Apple Watch replace the cellphone?

Muir spoke exclusively, one-on-one with Cook to answer all those questions.

Cook made today's big unveiling announcement from the Flint Center stage in Cupertino - the same stage where the company's late co-founder Steve Jobs unveiled the Mac computer 30 years ago.

"I think about Steve a lot. I love Steve dearly and there's not a day that goes by that I don't think about him, and this morning, being here, I especially thought about him," Cook told Muir. "I think he would be incredibly proud to see that the company that he left us, which I think was one of his greatest gifts to mankind was the company itself, be doing what it's doing today, I think he's smiling right now."

Although Cook said his team started working on the Apple Watch after Jobs died in 2011, he felt his friend still left an impact on the new product.

"The foundation that he left, you can see in all the things that we're doing today, and the way we look at things," Cook said. "So to me it's not as a big deal whether he personally saw something or didn't, his thinking and his taste and his incredible perfectionist kind of view, and his view that you should always innovate, all those things are alive and well in the company and I think they always will be."